Blockchain LLC CEO Invests $300M To Build Crypto City In Desert

2018/11/08/ 09:07

The CEO of Blockchain LLC, Jeffrey Berns, has invested $300 million in building a “crypto city” in the desert. Berns is a consumer protection lawyer by profession. Earlier this year through his company, he bought more than 67,000 acres of land in northern Nevada for around $170 million to make this dream a reality.

Giving Back To The Crypto Community

As a lawyer, Berns focused on class action suits against big financial service companies. He reportedly made a fortune through investing in Ethereum back in 2015. It’s for this reason that he now wants to give back to the crypto community by establishing Sandbox City. In the process, he hopes to leave his mark on the crypto industry too.

The city will be a model for running a smart city with a decentralized blockchain infrastructure that will power all interactions. It will house a high tech park that will incorporate ventures that use the blockchain technology with artificial intelligence (AI), nanotechnology and 3D printing.The city will include residential units that will host thousands of people alongside shops for business. The area will also have a studio for creating music, movies, and games as well as an esports arena.

Speaking during the launch event of the future city, the CEO said that he has also bought two decommissioned military bunkers. The bunkers are in different parts of the U.S, and they will offer secure physical, virtual asset storage.

He adds the company has also acquired a ‘fortress’ under a granite mountain which is located in Switzerland and another one in Sweden.

The CEO also adds that he bought a bank which he promises to make the friendliest fiat banking solution for the crypto ecosystem.

It’s a move he decided to take after his bank blocked all his cards after letting them know he was a Coinbase customer. At the time he was planning to fight the IRS in court after they demanded the crypto exchange to hand over all client data.

Blockchain LLC has also signed a Memorandum of Understanding (MoU) with Nevada’s NV energy. They have agreed to work together on energy projects that are powered by the blockchain technology.